Applying Econometric Modelling of Time Series for Analysis and Making Product Cost Forecasts (by the Example of NE «LRP “MOTOR”»)
DOI:
https://doi.org/10.29038/2411-4014-2016-01-121-126Keywords:
time series, econometric modelling, product costing, analytical smoothing, seasonal components, moving averageAbstract
In the article, we researched dynamic series of product cost using the reporting data of the NE «LRP “Motor”. We suggest applying econometric modelling inasmuch as it can help conduct the complex analysis not only in short periods, but also in the large scope dynamics. In our opinion,implementing this method will give an opportunity to make effective trend forecasts and thus, provide accurate analytical maintenance for the enterprise in the field of product costing. Article has both scientific and high practical value.
References
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Blai A. N. Forecasting construction cost escalation / Andrew N. Blair, Leonard M. Lye, W. J. Campbell: Revised manuscript [Internet resource]. – Mode of access : https://www.researchgate.net/publication/237190720_ Forecasting_construction_cost_escalation
FildesR. Cost and benefits of the forecasting methods / R. Fildes // Long-range forecasting [Internet resource]. – Mode of access : http://www.forecastingprinciples.com/files/LRF-Ch14b.pdf
Eliseeva I. I. Econometrics: Tutorial / I. I. Eliseeva. – Moscow : Finance and Statistics, 2003. – 344 p.
Report on financial resultsfor 2011–2015 years // Reporting statistic documentation of NE «LRP «Motor»
Sliepchenko K. O. Peculiarities of product cost calculation by the job-order costing method and identification of reserves to reduce it (on the NE «LRP «Motor») / N. A. Bukalo, K. O. Sliepchenko // Economic Sciences Series «Accounting and Finance» / Scientific works of Lutsk National Technical University. – Lutsk, 2014. – 432 p.
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Published
2016-04-03
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Section
ACCOUNTING, AUDITING, STATISTICS, MATHEMATICAL METHODS AND INFORMATION TECHNOLOG
How to Cite
[1]
2016. Applying Econometric Modelling of Time Series for Analysis and Making Product Cost Forecasts (by the Example of NE «LRP “MOTOR”»). Economic journal of Lesya Ukrainka Volyn National University. 1, 5 (Apr. 2016), 121–126. DOI:https://doi.org/10.29038/2411-4014-2016-01-121-126.
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